Discover Financial Services (NYSE:DFS) – Equities research analysts at DA Davidson upped their Q4 2016 EPS estimates for Discover Financial Services in a research report issued on Thursday. DA Davidson analyst A. Cyganovich now expects that the brokerage will post earnings per share of $1.40 for the quarter, up from their previous forecast of $1.39. DA Davidson currently has a “Buy” rating and a $62.00 price target on the stock. DA Davidson also issued estimates for Discover Financial Services’ FY2018 earnings at $6.60 EPS.

Other research analysts have also recently issued research reports about the stock. Deutsche Bank AG reaffirmed a “buy” rating on shares of Discover Financial Services in a report on Sunday, June 26th. Morgan Stanley reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Discover Financial Services in a report on Thursday, June 23rd. JMP Securities reaffirmed a “buy” rating and issued a $63.00 price objective on shares of Discover Financial Services in a report on Thursday, June 23rd. Jefferies Group reaffirmed a “buy” rating and issued a $66.00 price objective on shares of Discover Financial Services in a report on Wednesday, July 20th. Finally, Nomura reaffirmed a “buy” rating on shares of Discover Financial Services in a report on Saturday, July 9th. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the company. Discover Financial Services presently has a consensus rating of “Buy” and a consensus price target of $63.69.

Discover Financial Services (NYSE:DFS) opened at 54.47 on Monday. The company has a market cap of $21.99 billion, a P/E ratio of 10.23 and a beta of 1.20. Discover Financial Services has a one year low of $42.86 and a one year high of $60.29. The company has a 50 day moving average of $57.45 and a 200-day moving average of $55.84.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 17th. Stockholders of record on Thursday, November 3rd will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.20%. Discover Financial Services’s dividend payout ratio (DPR) is presently 22.47%.

In related news, CEO David W. Nelms sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $56.46, for a total value of $846,900.00. Following the completion of the sale, the chief executive officer now directly owns 1,727,268 shares in the company, valued at $97,521,551.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Diane E. Offereins sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $56.45, for a total transaction of $564,500.00. Following the completion of the sale, the executive vice president now owns 308,962 shares of the company’s stock, valued at $17,440,904.90. The disclosure for this sale can be found here. Insiders own 1.07% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in DFS. Bank of Montreal Can acquired a new position in shares of Discover Financial Services during the second quarter worth $287,715,000. PGGM Investments boosted its position in Discover Financial Services by 198.0% in the second quarter. PGGM Investments now owns 893,529 shares of the financial services provider’s stock worth $47,884,000 after buying an additional 593,661 shares during the last quarter. Nuveen Asset Management LLC boosted its position in Discover Financial Services by 17.8% in the first quarter. Nuveen Asset Management LLC now owns 696,455 shares of the financial services provider’s stock worth $35,464,000 after buying an additional 105,197 shares during the last quarter. Strs Ohio boosted its position in Discover Financial Services by 3.6% in the second quarter. Strs Ohio now owns 1,414,965 shares of the financial services provider’s stock worth $75,827,000 after buying an additional 49,764 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its position in Discover Financial Services by 3.7% in the second quarter. Handelsbanken Fonder AB now owns 559,946 shares of the financial services provider’s stock worth $30,008,000 after buying an additional 20,000 shares during the last quarter. Hedge funds and other institutional investors own 85.42% of the company’s stock.

Discover Financial Services Company Profile

Discover Financial Services (DFS) is a direct banking and payment services company. The Company is a bank holding company, as well as a financial holding company. The Company operates through two segments: Direct Banking, which includes consumer banking and lending products, specifically Discover-branded credit cards issued to individuals and small businesses on the Discover Network and other consumer banking products and services, including personal loans, home equity loans, and other consumer lending and deposit products, and Payment Services segment, which includes PULSE and its Network Partners business.